Country Club Perk Stocks: Update

A few weeks ago, I published an article about the stock performance of stocks with country club executive perks. I decided to check SEC filings again for just the last two days to see if any more stocks turned up which reported paying country club dues as executive perquisites.

Just in the last two days, I found a lot of them, many of which are banks. Here they are:

PSB Holdings Inc. (PSBH) [they call them social clubs]
Bank of Commerce Holdings (BOCH)
Home Bancshares, Inc. (HOMB) [also provide gas for personal cars]
Tupperware Brands Corporation (TUP) [also pay for financial & tax planning]
Mercantile Bank Corp. (MBWM)
FreightCar America Inc. (RAIL)
Renasant Corp. (RNST)
Citizens Financial Services Inc. (CZFS.OB)

I have come to the conclusion that country club dues perks are not a red flag; it is extremely commonplace. And as I have mentioned in a previous post, I don't see anything wrong with some of these unusual executive perks as long as both the company and the stock perform extremely well [I'm not necessarily referring to the above].. whatever it takes to retain and attract top executives.

Disclosure: Author does not own any of the above.

Comments

[User 290687:]

Uneducated analysis regarding: The Home Bancshares, Inc. (HOMB) [also provide gas for personal cars] . The "gas for personal cars" is correct, however your article fails to mention (or research) that the CEO (who the gas is for) does not receive a salary. I will concede that gas prices are high, but would you rather the bank pay a six-figure salary to the CEO (who is the owner by the way) or pay the relatively small variable expense of gas?

2008 Nov 03 10:55 AM